Return of Long-Term Ethereum Holders: Analysis of ETH's Next Movement
Powered by ChatGPTBackground Information: Ethereum ($ETH) is approaching its long-term accumulation threshold—the MVRV pricing range—currently at $1,367. Historically, each time this level is reached, it coincides with the market bottom, followed by a significant price rebound.
Key Events:
- $ETH's current price is $1,623.10, trading within a descending parallel channel since the end of 2024, facing resistance at $1,679 and a key breakout level at $2,117.
- Exchange reserves have decreased by 3.8% over the past week to $30.93 billion, indicating that investors prefer to move assets off centralized platforms, thereby reducing selling pressure.
- Whale activity has markedly increased, with whale outflows growing 216.21% and inflows rising 125.29% over the past 30 days, signaling that whales tend to hold long-term and reduce risk.
- 73.08% of $ETH holders are at a loss, 20.92% are in profit, and 6% are at break-even, reflecting bearish investor sentiment, which may also mark the end of the bear market cycle.
Potential Impact: The technical compression, declining reserves, increased whale outflows, and substantial unrealized losses collectively indicate that the market is nearing exhaustion. If bulls can quickly reclaim key price levels, $ETH is expected to start a new rebound from the $1,367 MVRV range; otherwise, it may face deeper corrections.